The category of micro, small and medium-sized enterprises (SMEs) is made up of enterprises which employ fewer than 250 persons and which have an annual turnover not exceeding 50 million euro, and/or an annual balance sheet total not exceeding 43 million euro.’

SMEs are the backbone of the EU economy – they represent 99 % of all enterprises in the EU. Some 23 million SMEs provide around 75 million jobs.

(Extract of Article 2 of the Annex of Recommendation 2003/361/EC)